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OUTBACK ANNOUNCES ACQUISITION OF FINNISH GOLD PROJECT PORTFOLIO FROM S2 RESOURCES AND CONCURRENT $5 MILLION FINANCING
OUTBACK ANNOUNCES ACQUISITION OF FINNISH GOLD PROJECT PORTFOLIO FROM S2 RESOURCES AND CONCURRENT ...
About this update from Valkea Resources Corp
[{"type":"text","content":"\n \n \n \n OUTBACK ANNOUNCES ACQUISITION OF FINNISH GOLD PROJECT PORTFOLIO FROM S2 RESOURCES AND CONCURRENT $5 MILLION FINANCING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX.V: OZ\n \n \n |\n \n \n OTCQB: OZBKF\n \n \n |\n \n \n FSE: S600\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 1, 2024\n \n \n /CNW/ -\n \n Outback Goldfields Corp\n \n . (the \"\n \n Company\n \n \" or \"\n \n Outback\n \n \") (TSXV: OZ) (OTCQB: OZBKF) is pleased to announce that it has entered into a letter of intent dated\n \n February 16, 2024\n \n (the\n \n Letter of Intent\n \n \") with S2 Resources Ltd. (\"\n \n S2\n \n \") to acquire all of S2's highly prospective portfolio of gold projects in\n \n Finland\n \n (the \"\n \n S2\n \n \n Finnish Projects\n \n \"), by way of an acquisition (the \"\n \n Transaction\n \n \") of S2's wholly-owned Finnish subsidiary, Sakumpu Exploration Oy (the \"\n \n S2 Subsidiary\n \n \"). On\n \n March 1, 2024\n \n , Outback notified S2 that it was satisfied with the results of its due diligence investigation, and the parties are now committed to proceeding with the Transaction subject to the terms and conditions set out in the Letter of Intent. Depending on the price and size of the Offering (as defined below), the Transaction may constitute a \"Reverse Takeover\" of Outback in accordance with Policy 5.2 –\n \n Changes of Business and Reverse Takeover\n \n s of the TSX Venture Exchange (the \"\n \n TSXV\n \n \").\n \n \n In addition, Outback will grant S2 an option (the \"\n \n Joint Venture Earn-In\n \n \") to earn an interest in Outback's Glenfine, Silver Spoon, Ballarat West and Yeungroon gold projects, located in the Victorian Goldfields,\n \n Australia\n \n (the \"\n \n Outback Australian Projects\n \n \"). The Outback Australian Projects are expected to have exploration synergies with S2's gold projects also located in the Victorian Goldfields, near the\n \n Fosterville\n \n gold mine.\n \n \n \"This is a transformative acquisition for Outback, providing o...